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Friday, 6th June 2008 (2022 views)

Gold miner Couer d'Alene has decided to remain the owner of the Rochester mine in Nevada after it reviewed strategic alternatives for the property.

The company said that the mine is an important source of cash flow and has opted to keep the site.

Last year the firm completed a seven-hole core drilling programme that was designed to test the level of gold mineralisation in the mine.

Dennis E. Wheeler, chairman, president and chief executive officer of Couer d'Alene, said: "Rochester continues to provide Couer with an important source of cash flow and is continuing to exceed budgeted levels.

"We are evaluating opportunities that could extend the mine life beyond 2011."

He added that during the first quarter of this year, the mine generated more than $12.4 million (£6.3 million).

According to its website, Couer d'Alene Mines Corporation is one the world's leading gold producers.

It owns a major gold project in Alaska and conducts exploration projects in Argentina, Bolivia, Chile, Mexico and Tanzania.

 

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